Bias-parameters
Bias-up, FWIW.
All upside objectives have been fulfilled. Buyers just need to hold their ground to establish their traction. Sellers just need to let gravity do its thing.
[pay]Yesterday morning’s patience was misplaced in waiting for a probe under overnight lows before buying. The retest of Monday’s high was quickly satisfied after the open. This morning’s patience was better rewarded, as a pullback down to the 1097.00-1098.00 prior high was fully recovered to probe the 1102.00 pre-open high.
And then some. The pullback’s low held a quick test of the 1095.50-1096.25 limit identified during the Morning Market Tour. That extra dip may have accounted for the extra gain to 1103.25. It might also help this leg extend up to 1095.00-1097.00, but the predictable objectives have been satisfied.
It’s a bias-up environment. The 1100.50 bias-up target was exceeded at 10:15, but its 3-minute bar overlapped 1100.50, which undermined confidence in the bias-up signal having been renewed. But there’s room down to 1099.00 before sellers don’t gain traction.
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Morning bias
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| WED morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1097.00 | 1094.50 |
| …would target | 1102.75 | 1100.50 |
| Bias-down: under | 1089.25 | 1087.00 |
| …would target | 1083.50 | 1081.00 |
| Signal status: BIAS-UP, BIAS-UP TARGET MET | FAQ | |
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Afternoon bias
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| TUE afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1096.00 | 1093.50 |
| …would target | 1100.25 | 1098.00 |
| Bias-down: under | 1087.75 | 1085.50 |
| …would target | 1082.50 | 1079.75 |
| Signal status: NO-BIAS | FAQ | |
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Morning bias
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| TUE morning signal (triggered at 10:15 ET) | SPX | ES |
| Bias-up: above | 1097.25 | 1094.50 |
| …would target | 1103.00 | 1100.50 |
| Bias-down: under | 1089.50 | 1087.00 |
| …would target | 1083.75 | 1081.00 |
| Signal status: NO-BIAS | FAQ | |
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Afternoon bias
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| MON afternoon signal (triggered at 1:20 ET) | SPX | ES |
| Bias-up: above | 1089.00 | 1086.25 |
| …would target | 1093.75 | 1091.25 |
| Bias-down: under | 1083.00 | 1080.50 |
| …would target | 1077.50 | 1074.75 |
| Signal status: NO-BIAS | FAQ | |
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